REG - AMTE Power PLC - Result of General Meeting, TVR and Retail Offer

Amte PowerAnnouncement

25/09/2023 11:45

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RNS Number : 5462N  AMTE Power PLC  25 September 2023

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF
THE UK VERSION OF REGULATION (EU) NO 596/2014 WHICH FORMS PART OF UK LAW BY
VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018, AS AMENDED. UPON THE
PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS
INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

 

 

AMTE Power plc

 

 

Result of General Meeting, Total Voting Rights and Retail Offer

 

AMTE Power Plc (AIM: AMTE) ("AMTE Power" or the "Company") is pleased to
announce that, at the General Meeting held earlier today, all resolutions as
set out in its notice of General meeting dated 8 September 2023 were duly
passed. Admission of the Conditional Placing Shares to trading on AIM is
therefore expected to occur on 26 September 2023.

 

Capitalised terms used but not otherwise defined in this announcement shall
have the meanings given to them in the Company's announcement made on 8
September 2023, unless the context requires otherwise.

Admission and Total Voting Rights

Following the General Meeting held earlier today, the Company will issue
112,596,610 Conditional Placing Shares.

 

Application has been made to the London Stock Exchange for admission of the
Conditional Placing Shares to trading on AIM. It is expected that Conditional
Admission will become effective at 8.00 a.m. on 26 September 2023. The
Conditional Placing Shares will rank pari passu in all respects with the
existing ordinary shares of 0.5 pence each ("Ordinary Shares").

 

Following Conditional Admission, the total number of shares in the capital of
the Company with voting rights will be 160,908,680 Ordinary Shares. This
figure may be used by shareholders as the denominator for the calculations by
which they will determine if they are required to notify their interest in, or
a change to their interest in, AMTE Power under the Financial Conduct
Authority's Disclosure Guidance and Transparency Rules.

 

Suspension of trading

On 13 September 2023, the London Stock Exchange announced a suspension of
trading in the Ordinary Shares as a result of deterioration in settlement
performance of those shares. It is hoped that the result of the General
Meeting will enable this situation to normalise shortly so enabling the
suspension to be lifted by the London Stock Exchange, whereupon dealings will
commence in those shares and the Conditional Placing Shares. Any decision by
the London Stock Exchange to lift the suspension will be communicated by the
London Stock Exchange in due course.

 

The Retail Offer

The Company values its shareholder base and believes that it is appropriate to
provide eligible existing retail shareholders in the United Kingdom the
opportunity to participate in the Retail Offer. The Retail Offer will allow
existing retail shareholders to participate in the fundraising by subscribing
for Retail Offer Shares at the Placing Price via the Bookbuild Platform.

 

An announcement regarding the launch of the Retail Offer will be made shortly
following the lifting of the suspension of trading in the Ordinary Shares and
will contain further information on how investors can participate in the
Retail Offer.

 

Results of the meeting

Details of the results of the voting, by way of a poll vote, at the General
Meeting are set out below. Resolution 1 is an ordinary resolution and
resolution 2 is a special resolution.

 

 Resolution                                                                     For                          Against
                                                                                Votes       % of votes cast  Votes    % of votes cast
 1. To authorise the Directors generally to allot relevant securities for cash  17,068,616  98.785%          209,907  1.21%
 2. To authorise the Directors generally to allot equity securities on a        17,059,563  98.733%          218,960  1.27%
 non-pre-emptive basis

 

The person responsible for arranging the release of this announcement on
behalf of the Company is Anita Breslin, Chief Financial Officer of the
Company.

 

For further enquiries:

 

 AMTE Power plc
                                                               +44 (0)1847 867 200
 Alan Hollis, CEO
 Anita Breslin, CFO

 WH Ireland Limited - (Nominated Adviser & Joint Broker)       Tel: +44 (0) 20 7220 1666
 Chris Fielding / James Bavister / Isaac Hooper (Corporate)
 Fraser Marshall / George Krokos (Broking)

 

About AMTE Power

AMTE Power was founded in 2013 and is a leading UK developer and manufacturer
of lithium-ion and sodium-ion battery cells for specialist markets. In March
2021, the Company was admitted to trading on the AIM market of the London
Stock Exchange. The Company is focused on launching a series of next
generation battery cells based on new chemistries and cell structures that are
designed to solve key problems in power delivery, energy performance, and
safety. These new products are targeted at a range of specialist markets
including the electric vehicle industry and energy storage sector.

AMTE Power's purpose-built cell manufacturing facility in Thurso, Scotland has
the second largest cell manufacturing capacity in the UK and the Company also
has a product development team based in Oxford. AMTE's proposed gigafactory in
Dundee, Scotland is expected to be capable of producing over 8 million battery
cells per annum enabling the Company to rapidly scale up cell production.

For further information visit the Company's website: www.amtepower.com.

 

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